Many members of the media had predicted Carey's participation (she's managed by fellow Idol judge Randy Jackson), while other contenders reportedly include former Idol contestant Adam Lambert, Gwen Stefani, Miley Cyrus and more. Earlier this month, Jennifer Lopez and Steven Tyler officially exited their posts after two seasons, while it remains to be seen whether Jackson will stay with the program.

"It's sad to see them go, but if they're gonna pick a new bath of judges, I think that it's a really great opportunity to find some people that really can give some great, great advice," season 10 second runner-up Haley Reinhart told The Hollywood Reporter at Sunday's Teen Choice Awards. "I know there's names thrown out there, like I just heard Gwen Stefani and Mariah Carey and even Adam Lambert, a past Idol. I think all these ideas are wonderful."

Reinhart admits she hopes to see another iconic rocker fill Tyler's shoes on the show, suggesting the legendary Paul McCartney as an option to "come in and fill that gap."

Also speaking with THR at Teen Choice was season six winner Jordin Sparks, who would love to see Lambert join the panel.

"I think it would be great. I think Adam is so talented, his voice is just out of this world," Sparks said. "It would be funny, too, because you would never know what he's going to say. You would have to be on guard, the censor people… but I love Adam, I think he's incredible."

As former Idols, themselves, would Reinhart or Sparks ever consider a judging gig?

"I do love to critique," said Reinhart. "There's a fine line with being harsh and yet telling them the truth, and I think if I was given the chance it would be a really, really cool opportunity."

But Sparks is singing a different tune.

"Nope. I can 100 percent say that I do not [want to judge]," Sparks exclaimed. "I would love to be a mentor, I think I would fit better on that side because it would be really hard for me to say, 'I'm sorry sweetie, that just wasn't good enough.' I don't know how I could say that because I remember standing there, so for me having gone through it, I don't know if I could put somebody else through that."